IVES vs. SKYY

Last updated Jun 24, 2026

IVES (Dan IVES Wedbush AI Revolution ETF) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - IVES tracks the Solactive Wedbush Artificial Intelligence Index while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past year, IVES returned 40.84% vs 11.01% for SKYY. A 0.78 correlation means they provide meaningful diversification when combined. IVES charges 0.75%/yr vs 0.60%/yr for SKYY.

Performance

IVES vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dan IVES Wedbush AI Revolution ETF (IVES) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVES achieves a 15.94% return, which is significantly higher than SKYY's -0.55% return.

IVES

• 1D: -2.42%
• 1M: -1.61%
• YTD: 15.94%
• 6M: 13.43%
• 1Y: 40.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKYY

• 1D: -0.14%
• 1M: -2.76%
• YTD: -0.55%
• 6M: -2.25%
• 1Y: 11.01%
• 3Y*: 20.55%
• 5Y*: 4.29%
• 10Y*: 16.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IVES vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025
IVES Dan IVES Wedbush AI Revolution ETF	15.94%	25.11%
SKYY First Trust ISE Cloud Computing Index Fund	-0.55%	11.13%

Correlation

The correlation between IVES and SKYY is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.78

The correlation between IVES and SKYY has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

IVES vs. SKYY - Sectors Allocation Comparison

Sectors	IVES	SKYY
Technology	71.8%	88.9%
Consumer Cyclical	11.0%	1.6%
Communication Services	10.9%	4.8%
Industrials	3.1%	1.6%
Financial Services	1.9%	-
Utilities	1.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	1.6%
Real Estate	-	-

Return for Risk

IVES vs. SKYY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IVES

IVES Risk / Return Rank: 40
IVES Sharpe Ratio Rank: 45
IVES Sortino Ratio Rank: 41
IVES Omega Ratio Rank: 41
IVES Calmar Ratio Rank: 37
IVES Martin Ratio Rank: 34

SKYY

SKYY Risk / Return Rank: 14
SKYY Sharpe Ratio Rank: 14
SKYY Sortino Ratio Rank: 15
SKYY Omega Ratio Rank: 15
SKYY Calmar Ratio Rank: 13
SKYY Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IVES vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dan IVES Wedbush AI Revolution ETF (IVES) and First Trust ISE Cloud Computing Index Fund (SKYY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IVES	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	1.51	0.39	+1.13
Sortino ratio: Return per unit of downside risk	2.03	0.75	+1.28
Omega ratio: Gain probability vs. loss probability	1.26	1.09	+0.17
Calmar ratio: Return relative to maximum drawdown	1.81	0.40	+1.41
Martin ratio: Return relative to average drawdown	4.94	0.88	+4.06

IVES vs. SKYY - Sharpe Ratio Comparison

The current IVES Sharpe Ratio is 1.51, which is higher than the SKYY Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of IVES and SKYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IVES vs. SKYY - Drawdown Comparison

The maximum IVES drawdown since its inception was -22.64%, smaller than the maximum SKYY drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for IVES and SKYY.

Drawdown Indicators

	IVES	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-22.64%	-53.20%	+30.56%
Max Drawdown (1Y) Largest decline over 1 year	-22.64%	-27.39%	+4.75%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-53.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.20%	—
Current Drawdown Current decline from peak	-12.17%	-16.63%	+4.46%
Average Drawdown Average peak-to-trough decline	-5.83%	-10.90%	+5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.28%	12.55%	-4.27%

Volatility

IVES vs. SKYY - Volatility Comparison

The current volatility for Dan IVES Wedbush AI Revolution ETF (IVES) is 11.75%, while First Trust ISE Cloud Computing Index Fund (SKYY) has a volatility of 13.51%. This indicates that IVES experiences smaller price fluctuations and is considered to be less risky than SKYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVES	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.75%	13.51%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	21.34%	23.95%	-2.61%
Volatility (1Y) Calculated over the trailing 1-year period	27.10%	28.58%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.66%	30.73%	-4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.66%	26.89%	-0.23%

IVES vs. SKYY - Expense Ratio Comparison

IVES has a 0.75% expense ratio, which is higher than SKYY's 0.60% expense ratio.

Dividends

IVES vs. SKYY - Dividend Comparison

IVES's dividend yield for the trailing twelve months is around 0.36%, while SKYY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVES Dan IVES Wedbush AI Revolution ETF	0.36%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SKYY First Trust ISE Cloud Computing Index Fund	0.00%	0.00%	0.00%	0.00%	0.23%	0.78%	0.17%	0.54%	0.37%	0.27%	0.35%	0.41%

Frequently Asked Questions

Can I hold both IVES and SKYY in my portfolio?

IVES and SKYY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVES or SKYY?

SKYY has higher volatility (13.51%) compared to IVES (11.75%). In terms of maximum drawdown, IVES dropped -22.64% vs SKYY's -53.20%.

Which ETF is better, IVES or SKYY?

On 1-year performance, IVES leads with 40.84% vs 11.01% for SKYY. On fees, SKYY is cheaper at 0.60% per year. On volatility, IVES has been the lower-risk option at 11.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVES or SKYY?

Over the 1-year period, IVES has performed better with a 40.84% return vs 11.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVES or SKYY?

SKYY is cheaper with a 0.60% expense ratio, compared with 0.75% for IVES.

Which ETF pays a higher dividend yield, IVES or SKYY?

IVES has the higher dividend yield at 0.36%, compared with 0.00% for SKYY.

What is the main difference between IVES and SKYY?

IVES tracks Solactive Wedbush Artificial Intelligence Index, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: Wedbush and First Trust. Their fees differ too: 0.75% for IVES and 0.60% for SKYY.

Which has better risk-adjusted returns?

IVES currently has the higher Sharpe Ratio (1.51 vs 0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.